Piper Jaffray Completes the Sale of Advisory Research, Inc. to Advisory Research Partner Group Led by Executive Chairman, Matthew Swaim

MINNEAPOLIS--(BUSINESS WIRE)--Piper Jaffray Companies (NYSE: PJC) a leading investment bank and institutional securities firm, announced today it has completed its sale of the remaining business of Advisory Research, Inc., resulting in the firm exiting its traditional asset management business. A partner group led by Matthew Swaim, managing director and executive committee chairman at Advisory Research, purchased the remaining Advisory Research business following the sale of the midstream energy asset management (MLP) business to Tortoise Capital Advisors on September 20, 2019.